MTN Mobile Money: A Complete Guide

MTN Mobile Money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using your mobile phone. The service is offered by MTN in partnership with over 10 partner banks.

MTN Mobile Money services have over 6.2 million Mobile Money customers in Ghana and have reserved some GH¢13.04 million to pay as interest to customers. This means you will receive interest on your money depending on how much transactions you are doing.

I recently received as low as GH¢0.02 as interest earned on my mobile wallet for the period between January to March. Peanut? Well, that’s because I don’t do much of mobile money transactions, hence the low interest earned. How much interest do you receive?

How to register for MTN Mobile Money

1. You can only apply for a Wallet if you are an active MTN Ghana subscriber. Ghanaian citizens with valid ID and documents may apply for a Mobile Money Wallet.

2. Foreigners wanting to benefit from this service may be required to provide evidence of residence, in the form of a resident permit.

3. Persons below the age of 18 (minors) can open a Mobile Money Wallet. A person above the age of 18 may, however, open an MTN Mobile Money Account Wallet to be held in trust for a minor.

4. MTN require your personal details and certain specific information before a decision is made on your application. You must provide complete and accurate information.

5. MTN may decline your application at our sole discretion.

6. MTN will verify your identity and may refuse to open a Wallet for you if they are not satisfied with proof of your identity.

7. Your Wallet will be held by MTN Mobile Money.

Procedures

Now that you’ve read and accepted the requirements above, it’s time to take action. Here are procedures for you to follow to become MTN Mobile Money user.

• Go to any authorized Mobile Money agent (merchant) close to you, carrying along any of your ID’s (National ID, Voter’s I.D, NHIS, Passport, or Driver License) for the registration.

• The merchant gets your details and does his part of the registration process. Be sure the merchant is a trusted one!

• Take back your ID card when the merchant is done. You may be charged GH¢5.00 for the registration.

• Next step will be to confirm your registration and then set your Mobile Money PIN Code (MM PIN code). Select PIN, type and repeat a 4 number PIN as your Mobile Money PIN code. Set a code that no one would easily guess, and don’t share with anyone.

• You will receive an SMS asking you to go to your Mobile Money menu to complete the registration process.

Now that your registration is done, you can receive or transfer money and top up airtime from your mobile money account. For further assistance, seek help from MTN. Call 100 (Toll-Free) or visit their support section.

How to top-up airtime from your Mobile Money Wallet

Topping up airtime from your mobile money is a cool feature I love so much. The sweet thing about this is you get a bonus on your top up, unlike scratch card where you are unlikely to get the bonus.

There are two ways to go about this which will be covered below. But, before you top up, make sure you have enough money in your wallet or amount more than the airtime you want to buy.

Option 1

Procedures:

1. Dial *170# on your phone

2. Select “Buy Airtime” (Number 3)

3. Enter amount

4. Type in the phone number (i.e the number you want to top-up on)

5. Repeat the same number

6. Enter your Mobile Money PIN code (MM PIN code)

You will then receive a message from MTN that you have successfully top-up your airtime like this;

Option 2

Procedures:

Wait for some seconds and you’ll see a screenshot of your current balance and available balance.

How to close your Mobile Money account

Mobile Money Wallets are opened and owned by MTN Partner Banks and this service is currently reserved to everyone. MTN Mobile Money has so far been safe and a fast way to transfer money to friends, relatives or business partners.

In case you want to deactivate or close your MTN Mobile Money Wallet for any reason, here are guidelines provided on how to close your Wallet.

1. Your Wallet will be closed upon receiving a request from you.

2. MTN can close your Wallet, restrict activity on your Wallet or suspend access to your Wallet if in any way they know or suspect your Wallet is being used fraudulently, negligently or for illegal activities or if they must do so to comply with the Law.

3. Your Wallet will be closed if you are in breach of these terms and conditions, are trying to compromise the systems or are unreasonably interfering with any Services provided by MTN.

4. MTN may choose at any time to close your Wallet to protect their interests.

5. MTN may close your Wallet if you do not use your cell phone and Wallet for a period of 9 months, except where your contract for your cell phone is still valid.

6. If you are no longer an MTN subscriber, your Wallet may be closed.

7. If MTN closes your Wallet in terms of this clause 10 you must ensure that all debit orders linked to this Wallet are removed within 90 days as these debit orders will be declined after this period and neither the Partner Banks nor MTN will accept any liability resulting from these declined debit orders.

8. MTN will not be responsible to you for any direct, indirect, consequential or special damages arising from any act or omission by them or any third party for whom they are responsible, whether arising in contract, delict or statute, if they close or suspend your Wallet.

How to Become MTN Mobile Money Agent (Electronic Application)

Becoming an MTN mobile money agent is not difficult. You don’t need any special academic qualifications to become an agent. You only need to fill a form and follow certain rules and regulations to get accepted.

Follow the processes below to become an MTN Mobile Money Merchant in Ghana.

Agent Documentation Requirements

Agent Location and Structure

In accordance with EMI (E-money Issuer) guidelines, prospective Agents must also meet the required structure and location requirements below:

• Permanent structure in the form of Brick and Mortar, Semi-permanent structure (Defined) is required for Agent outlet. These structures should be placed within 50-100 meters radius.

• Wooden structures popularly known as kiosks and Space2Space Umbrella outlets do not meet the standard requirement.

Agent Capital Requirement

Agents are required to have a startup capital of GH¢ 4,000.

Processing of Documents

1. Note that MTN Mobile Money shall respond via email or phone to all applicants upon receipt of their application.

2. Applications received shall be vetted by MTN to ensure they meet all requirements.

3. Presenting fake documents in support of agent applications is a criminal offense and MTN Mobile Money reserves the right to reject any applications that do not meet the requirements above and take such action as may be necessary for respect thereof.

4. Successful applicants shall be informed via email or phone about the status of their application.

5. Processing of a successful application shall take a minimum or maximum of twenty-three (23) working days from the date on which the application is received.